SOURCE: Generali Group

Generali Group

April 11, 2016 18:30 ET

UPDATE - Generali Global Corporate & Commercial Launches Tribune Property Insurance

Company Partners With BELFOR Property Restoration to Provide Carrier Risk Management Solution

NEW YORK, NY--(Marketwired - Apr 11, 2016) - Generali Group (BIT: G), one of the largest global insurance providers, today announced that the United States branch of its Global Corporate & Commercial business unit ("GC&C" or the "Company") launched TRIBUNE, a new property insurance product for U.S. multinational corporations that provides comprehensive coverage solutions for their USA and overseas property exposures. The Company also disclosed that it has struck a new partnership with BELFOR Property Restoration ("BELFOR"), under which TRIBUNE clients can access a suite of remediation services tailored to the multinational marketplace.

TRIBUNE, which has global capacity of up to $250 million, provides customers with the efficiencies of a centrally administered global program, in addition to local policies that offer access to regional insurance pools. As a Controlled Master Program, TRIBUNE provides global coverage consistency, centralized tracking and timely resolution of any post-bind service items. Additionally, through its partnership with BELFOR, the BELFOR Red Alert Priority Response program has been selected as the recommended loss control and loss mitigation solution for all TRIBUNE clients. Building on GC&C's strong relationship with BELFOR in Europe, the new partnership between the two entities provides a world-class risk management solution for U.S. corporations operating globally.

Andrew Sims, Senior Vice President, Property & Construction at GC&C U.S.A., commented on today's news, "In an increasingly interconnected global economy, constructing a program to protect overseas assets has become more and more complex. TRIBUNE was specifically designed to respond to the unique challenges of cross-border risk management for multinational corporations based in the U.S., and to avoid the pitfalls of insurance fragmentation across country lines. We are proud to have entered into partnership with BELFOR, which adds further value beyond the policy for our clients and provides a more efficient and effective method of protecting their critical assets."

Generali Global Corporate & Commercial provides a full range of property, casualty and specialty lines protection to corporate and commercial clients and their brokers worldwide. The Generali Group is among the world's leading insurers, with total premium income exceeding EUR 74 billion in 2015. GC&C's experienced and locally empowered teams support Generali Group companies, partners, brokers and customers through a client centric, solution based approach to the business of risk management.

Bill Skapof, Head of GC&C U.S.A., concluded, "Drawing on the significant resources of Generali Group, one of the top 10 largest global insurers and 50 largest companies in the world with close to EUR 480 billion of assets under management and over EUR 70 billion in gross annual premiums, GC&C USA delivers flexible and responsive, bespoke insurance solutions to U.S. corporations. Our proprietary global tools, inclusive of the new TRIBUNE offering, ensure that clients' property and casualty insurance needs are met regardless of the location of their assets. We support the corporate and commercial community worldwide through continuous development, long-term customer engagement and service excellence in an ever-changing marketplace."

About Generali Group
The Generali Group is among the world's leading insurers, with total premium income exceeding EUR 74 billion in 2015. With above 76,000 workers in the world, present in over 60 Countries, the Group has a leading position in Western European Countries and an ever more significant presence in the markets of Central and Eastern Europe and in Asia. In 2015, Generali was the sole insurance company included among the 50 smartest companies in the world by the MIT Technology Review.

Contact Information

  • Contact:
    Jay Morakis (for Generali Global Corporate & Commercial U.S.A.)
    M Group Strategic Communications
    +1 212.266.0191